Alamos Gold Declares Quarterly Dividend

Rhea-AI Summary

Alamos Gold Inc. (AGI) has declared a quarterly dividend of US$0.025 per common share, payable on March 31, 2022. Shareholders on record by March 17, 2022 will receive this dividend, marking 13 consecutive years of dividend payments totaling $247 million to shareholders, with $51 million returned in 2021 alone. The Company has also initiated a Dividend Reinvestment Plan (DRIP) allowing shareholders to reinvest dividends for additional shares at a 2% discount.

Positive

• Quarterly dividend declared at $0.025 per share.
• Total of $247 million returned to shareholders over 13 years.
• $51 million returned to shareholders in 2021.
• Introduction of a Dividend Reinvestment Plan (DRIP) offering shares at a 2% discount.

Negative

• None.

TORONTO, March 03, 2022 (GLOBE NEWSWIRE) -- Alamos Gold Inc. (TSX:AGI; NYSE:AGI) (“Alamos” or the “Company”) today announced that the Company’s Board of Directors has declared a quarterly dividend of US$0.025 per common share. The Company has paid dividends for 13 consecutive years during which time $247 million has been returned to shareholders through dividends and share buybacks, including $51 million in 2021.

The dividend is payable on March 31, 2022 to shareholders of record as of the close of business on March 17, 2022. This dividend qualifies as an “eligible dividend” for Canadian income tax purposes.

Dividend Reinvestment Plan

The Company has implemented a dividend reinvestment plan (“DRIP”). This gives shareholders the option of increasing their investment in Alamos, at a discount to the prevailing market price and without incurring any transaction costs, by electing to receive common shares in place of cash dividends. For shareholders that elect to participate in the DRIP, common shares will be issued from treasury at a 2% discount to the prevailing market price.

Enrollment in the DRIP is optional. Further information on the plan, including the forms needed to enroll are available on the Company’s website at http://www.alamosgold.com/investors/Dividend-Reinvestment-Plan. In order to be eligible to participate in the March 31, 2022 dividend, enrollment must be completed by 4:00 pm EST on the fifth business day prior to the March 17, 2022 dividend record date.

About Alamos

Alamos is a Canadian-based intermediate gold producer with diversified production from three operating mines in North America. This includes the Young-Davidson and Island Gold mines in northern Ontario, Canada and the Mulatos mine in Sonora State, Mexico. Additionally, the Company has a significant portfolio of development stage projects in Canada, Mexico, Turkey, and the United States. Alamos employs more than 1,700 people and is committed to the highest standards of sustainable development. The Company’s shares are traded on the TSX and NYSE under the symbol “AGI”.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Scott K. Parsons
Vice President, Investor Relations
(416) 368-9932 x 5439

All amounts are in United States dollars, unless otherwise stated.

The TSX and NYSE have not reviewed and do not accept responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward Looking Statements

Certain of the statements made and information contained herein, other than statements of historical fact and historical information, is "forward-looking information" within the meaning of applicable Canadian and U.S. securities laws. Forward-looking statements are generally, but not always, identified by the use of forward-looking terminology such as "will", "may", “potential” or variations of such words that certain actions, events or results "could” "might" or "will" occur or be achieved. Forward-looking statements in this press release include information regarding planned dividend payments. The declaration and payment of dividends remains at the discretion of the Board of Directors and will depend on the Company's financial results, cash requirements, future prospects and other factors deemed relevant by the Board of Directors. Alamos cautions that forward-looking statements are necessarily based upon several factors and assumptions that, while considered reasonable by the Company at the time of making such statements, are inherently subject to significant business, economic, legal, political and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.

 

FAQ

What is the dividend amount declared by Alamos Gold (AGI)?

Alamos Gold has declared a quarterly dividend of US$0.025 per common share.

When is the dividend payable for Alamos Gold (AGI)?

The dividend is payable on March 31, 2022.

What is the record date for the dividend of Alamos Gold (AGI)?

The record date for the dividend is March 17, 2022.

What is the purpose of the Dividend Reinvestment Plan (DRIP) for Alamos Gold (AGI)?

The DRIP allows shareholders to reinvest dividends into additional shares at a 2% discount.

How much has Alamos Gold (AGI) returned to shareholders over the years?

Alamos Gold has returned $247 million to shareholders over 13 years.

What tax qualification does the Alamos Gold (AGI) dividend have?

The dividend qualifies as an 'eligible dividend' for Canadian income tax purposes.